Commerce
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Philadelphia Ranks Among Best Startup Cities in Nation as Funding Freeze Shows Signs of Thawing
Philadelphia ranks among the top ten best startup cities that have at least 1 million residents, as the funding freeze that has lasted several years starts to ease, writes Ryan Mulligan for the Philadelphia Business Journal. The Philadelphia innovation ecosystem placed eighth in a recent CommercialCafe ranking, beating out cities such as Chicago, Los Angeles,…
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New Steakhouse from Atlas Restaurant Group Coming to The Rittenhouse Hotel
Atlas Restaurant Group is set to open its second Philadelphia restaurant, introducing its steakhouse concept The Ruxton at The Rittenhouse Hotel, writes Emma Dooling for the Philadelphia Business Journal. The Ruxton will replace Italian restaurant Scarpetta, which is scheduled to close on January 31. Construction is expected to begin in the fall, with the two-story…
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Wayne-Based Guardian Capital Partners Closes Fourth Fund With $441M
Wayne-based Guardian Capital Partners has closed its fourth fund, marking its largest raise by far since the firm launched in 2008, at $441 million, writes Jeff Blumenthal for the Philadelphia Business Journal. Co-founders of the leveraged buyout private equity investor focused on the lower end of the middle market, Peter Haabestad and Scott Evans, believe Guardian Capital Partners Fund IV…
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Swarthmore College President to Step Down in 2027 After 12-year Run
Swarthmore College is losing its president in June 2027, writes Susan Snyder for The Philadelphia Inquirer. Valerie Smith, 70, is leaving at the end of her current contract, which had been extended in 2024. Smith did not indicate why she was leaving. She has served as president for 12 academic years. She announced her decision…
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Montco Trading Giant Steps Into New Betting Frontier
Bala Cynwyd-based Susquehanna International Group is stepping into one of Wall Street’s fastest-growing arenas: prediction markets, writes Samuel O’Brient for Business Insider. Prediction markets have surged in popularity since 2024. The platforms where participants trade contracts tied to the outcome of real-world events began largely as a retail-driven phenomenon. Now, it’s attracting institutional attention, and…
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Philadelphia Lands in Top 10 of Renters’ Most Wanted Cities List
Philadelphia ranked among the top ten most popular major cities for renters looking for apartments leading up to this year’s peak rental season, writes Michaelle Bond for The Philadelphia Inquirer. To determine the ranking, the nationwide apartment search platform RentCafe analyzed millions of apartment searches across the 150 largest cities in the United States. The…
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Did You Know Philadelphia Introduced the World to Price Tags?
In the period when bartering and bargaining dominated commerce, determining a clear price for goods was difficult, reports Christie Ileto for 6abc. “It was really a common practice to go into a retail location and to haggle,” said Selena Austin of the Historical Society of Pennsylvania. “You would have to negotiate the terms of the…
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Ambler Advances Major Mixed-Use Plan Near SEPTA Station
A proposed transformation of land near Ambler’s SEPTA station took a meaningful step forward this week, writes Linda Finarelli for The Reporter. The Borough Council voted 5-2 on February 17 to approve revisions to the town’s redevelopment overlay district. This allows Dresher’s BET Investments to move ahead with plans for a mixed-use project along West…
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Hangout Cafe in Springfield Mall Has Grand Reopening Sunday
The Hangout Cafe at the Springfield Mall will have a grand reopening from 2 to 5 PM on Sunday, March 1, writes Peg DeGrassa for the Daily Times. The mall restaurant at 1250 Baltimore Pike in Springfield temporarily closed, shifting its focus from being a traditional restaurant to The Hangout Cafe: An Event and Experience…
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New Restaurant Coming to Doylestown’s Former Waters Edge Winery & Bistro
The Doylestown Borough Council recently approved an inter-municipal transfer of a restaurant liquor license, giving a major boost to plans for a new family restaurant and bar in the heart of the borough, writes Jeff Werner for the Patch. The license came from a Bristol restaurant and now belongs to 50 North Main Street in…
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Denmark’s Alveus Therapeutics Shifts Headquarters to Philadelphia After Securing $197M in New Funding
Following its $197 million Series A round, obesity drug startup Alveus Therapeutics said it will move its headquarters from Copenhagen, Denmark, to Philadelphia, writes John George for the Philadelphia Business Journal. The 2-year-old biotechnology company will maintain research and development operations at its previous home. Last month, Alveus announced that it had initially raised $159…
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Philadelphia Street Artists Install Bus-Tracking Signs Across City, Aim to Make SEPTA More Accessible
While walking the streets of Philadelphia, you may notice new aluminum signs that indicate estimated bus arrival times. The signs are the work of “Bus Stop Banksy,” a moniker that was used by a local reporter to describe a group of local street artists, writes Angie Orellana Hernandez for The Washington Post. These artists program…
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Wall Street Journal: Urban Outfitters’ Rental Business Nuuly Surpasses 2025 Sales Target
Urban Outfitters‘ clothing rental service company, Nuuly, beat its 2025 sales target, allowing it to help Urban Outfitters’ overall growth, writes Jennifer Williams for The Wall Street Journal. This growth is driving more shoppers to the retailer’s other brands, including Anthropologie and Free People. Nuuly’s annual net sales reach more than $568 million for the…
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North Philly Man Who Worked As MLK’s Former Speechwriter To Be Subject of New Documentary
Clarence B. Jones, a lawyer and former speechwriter for Dr. Martin Luther King, Jr., is the subject of a new Netflix documentary directed for NBA star Stephen Curry, writes Elizabeth Wellington for The Philadelphia Inquirer. The short documentary, titled The Baddest Speechwriter of All, will mark Curry’s directorial debut, pairing him with Academy Award-winning director…
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House of the Week: Gorgeous Traditional in Fairmount
A gorgeous traditional home with four bedrooms and three bathrooms is available for sale in Fairmount. This remarkable residence is a rare historic 22-foot-wide brownstone meticulously restored for modern living, offers timeless charm combined with contemporary sophistication. Distinctive details include soaring 13-foot ceilings, original architectural embellishments, exposed white brick arches, and striking proportions throughout. .…
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Oyster House in Philadelphia Earns 2026 America’s Classics Award By James Beard Foundation
Oyster House in Philadelphia has been named one of more than 100 recipients of the 2026 America’s Classics Award by the James Beard Foundation, writes Tom Ignudo for CBS News Philadelphia. Owned by third-generation owner Sam Mink, Oyster House has been a staple at its Center City location on Sansom Street since 1976. The Mink…
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Creating Heart-Healthy Habits Starts in Childhood
You might think cholesterol and heart disease are only adult concerns, but research shows cardiovascular disease begins in childhood. Many teens have unhealthy cholesterol levels, meaning their good cholesterol is too low or their bad cholesterol is too high. And the risk increases dramatically with weight — with obese teens being affected at a rate…
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Radnor Investors Seek $15M for Spread Bagelry Expansion
Spread Bagelry is raising $15 million so it can open up to 18 new stores over two years in the region, writes Emma Dooling for Philadelphia Business Journal. The expansion would double the company’s store footprint by the end of 2028. Spread Bagelry is majority-owned by Radnor private equity firm MVP Capital Partners, which came…
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